Bitcoin prices tumbled on Wednesday, crashing through the psychologically important $6,000 level and making a new low for 2018.
A single bitcoin BTCUSD, +0.72% was last fetching $5,466.59, down 13.6% since Tuesday at 5 p.m. Eastern Time on the Kraken crypto exchange. Bitcoin reached a session low of $5,405.97.
“After the recent attempt to clear $6,500 bitcoin has lost all its momentum and now we are seeing some very bearish signals,” said Naeem Aslam, chief market analyst at Think Markets U.K. Aslam added that a break of the 2018 low, would open up a move towards the $5200 to $5300 level.
The fall wiped $15 billion off the market cap of bitcoin, according to data from CoinMarketCap and the broad-based selloff shed more than $30 billion off the total value of all cryptocurrencies. .
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